State Codes and Statutes

Statutes > South-dakota > Title-48 > Chapter-07 > Statute-48-7-605

48-7-605. Distribution in kind. Except as provided in writing in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in writing in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership.

Source: SL 1986, ch 391, § 605.

State Codes and Statutes

Statutes > South-dakota > Title-48 > Chapter-07 > Statute-48-7-605

48-7-605. Distribution in kind. Except as provided in writing in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in writing in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership.

Source: SL 1986, ch 391, § 605.


State Codes and Statutes

State Codes and Statutes

Statutes > South-dakota > Title-48 > Chapter-07 > Statute-48-7-605

48-7-605. Distribution in kind. Except as provided in writing in the partnership agreement, a partner, regardless of the nature of his contribution, has no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in writing in the partnership agreement, a partner may not be compelled to accept a distribution of any asset in kind from a limited partnership to the extent that the percentage of the asset distributed to him exceeds a percentage of that asset which is equal to the percentage in which he shares in distributions from the limited partnership.

Source: SL 1986, ch 391, § 605.